BOOM: What a real recovery looks like

Discussion in 'Economy' started by longknife, Oct 24, 2012.

  1. longknife
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    longknife Platinum Member

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    Oct 23, 2012 (13 hours ago)

    by directorblue @ Doug Ross @ Journal: BOOM: What a real recovery looks like

    I'd somehow missed this open letter from Investors Business Daily to FLOTUS ("Memo To Michelle: What A 'Huge Recovery' Looks Like"), but happened upon it thanks to a review of the comprehensive story rolodex at Instapundit:

    Michelle Obama recently described this recovery as "huge." Maybe she forgot what decade it is. The Reagan recovery in the '80s was huge. But the one her husband's policies have given us? Not so much.

    [​IMG]

    More at above link
     
  2. expat_panama
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    expat_panama Silver Member

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    It's the difference between proud-of-America tax cuts and apologize-for-America tax hikes.
     
  3. andy753
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    andy753 Senior Member

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    Different US, different policies, different world. Do you really think Obama is to blame? What about Congress? The Federal Reserve? Even if McCain won the election, we would still be in a mess, and you know it. Get educated.
     
  4. expat_panama
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    expat_panama Silver Member

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    Blame's sure what lots of people think of first, but it doesn't fix anything. Let's make things better first, and afterwards those with nothing better to do can blame all they want. What we're talking about here is recovery --what it should look like and how it's brought about.

    You made a great point mentioning Congress and the Fed because congress controls fiscal policy and the Fed does monetary policy. Both the '80 and '08 recessions started with high unemployment and market crashes (both worse in '80), but two big differences were inflation and the Soviet Empire that didn't happen in '08. The policy differences between then and now were both from the Fed and with Congress. In '82 the Fed had to fight inflation so we went back into a double-dip recession. This time no inflation meant no double-dip. Monetary policy hurt then and helped now. Fiscal policy is what hurts now and helped then, as Congress cut taxes big time 30 years ago and raised them in '10.

    Taxes made a big difference not only for the economy but for the deficit:
    [​IMG]
     
  5. Truthseeker420
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    Truthseeker420 Gold Member

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    Reagan was not dealing with 30 years of Reaganomics and the worst economy since the Great Depression. Nor did he have to deal with a do nothing congress. and with just a quick glance. the misery index is a lie.
     
    Last edited: Oct 25, 2012
  6. uscitizen
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    uscitizen Senior Member

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    Yeah reagan tac cuts?

    I started paying instead of getting a refund after Reagans tax "cuts".
    He did away with lots of personal income tax deductions.
     
  7. uscitizen
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    uscitizen Senior Member

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    Many things are different now vs when Regan was president.

    Remember during Reagans terms we went from a creditor nation to a debtor one.
    We bought very little from China, etc...
     
  8. iamwhatiseem
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    iamwhatiseem Gold Member

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    What recovery?
    I don't even want to hear that word.
    30 straight months of of declining growth is not a damn recovery.
    Record social programs, out-of-control underemployment, HUUUUUUUUUUUUUUUGE - record part-time employment instead of full time employed is so out of control that it is higher now than during the depression.
    Recovery my ass.
     
    Last edited: Oct 25, 2012
  9. uscitizen
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    uscitizen Senior Member

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    When Reagan came into office we loaned money to other nations, when he left office we were borrowing money from other nations.
    Our national debt was around $700 billion when Carter left office.
    This all began under Reagan.
     
  10. iamwhatiseem
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    iamwhatiseem Gold Member

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    You are a smart guy usc...so therefore I know you know that Clinton has every bit as much fault in our current crises as Reagan.
    Our crises is caused by the corruption of both parties and you know it.
    Bad form guy.
     

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